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US warns eurozone over deflation risk

US Secretary of the Treasury Jacob Lew speaks in Sao Paulo, Brazil, on March 17, 2014US Treasury Secretary Jacob Lew warned the eurozone Wednesday to pay heed to the risk of deflation, adding pressure on European authorities and the European Central Bank to boost growth. “The risk of low demand and the risk of deflation is something they need to be very alert to,” Lew said on CNBC television. Speaking days before Group of 20 finance minister and central bankers meet in Washington to discuss the world economic situation, Lew said countries running strong fiscal and trade surpluses should do more to increase demand, to help deficit countries. “In Europe as a whole, the growth rate is very modest, the risk of deflation is something that has a lot of people concerned,” he said.

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